All of the Following Are True Regarding Mortgage Backed Securities

All of the following are true regarding mortgage backed securities except:

A) A mortgage-backed security is a debt security created by pooling together a group of mortgage loans whose periodic payments belong to the holders of the security.
B) Some mortgage-backed securities "pass through" the interest and principal payments to the owners of the securities.
C) Payments on the underlying mortgages are made to the financial institution that created the mortgage-backed security, and the institution, in turn, pays or passes through the payments to the investors or owners of the securities.
D) In some mortgage-backed securities, the issuer separates or "strips" the interest and principal payment streams into separate securities.
E) all of the above statements are true